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    Environmental Sustainability in India: The Effects of Financial Development and Green Energy on Ecological Footprint
    (Berg Fac Technical Univ Kosice, 2024) Ozbek, Bahar; Ozbek, Sefa
    In this study, environmental sustainability is investigated through the ecological footprint variable in India from 1965 to 2018. In this context, the impact of renewable energy use, financial development, urbanization and economic growth on India's ecological footprint is analyzed. Since all variables were stationary at the first difference, the cointegration relationship between variables was tested with Gregory-Hansen and Hatemi-J cointegration tests. Empirical findings have shown that there is a long-term relationship between the variables in the relevant period. FMOLS, DOLS, and CCR estimators were used to determine the direction and magnitude of the effect of the explanatory variables on the dependent variable. The estimation results found that while economic growth increased the ecological footprint the most, financial development decreased the most. In addition, the increase in urbanization increases environmental degradation. However, although the use of green energy is not at the desired level, it increases the environmental quality. On the other hand, the study tests the EKC hypothesis for India. Research results support that there is an inverted-u-shaped relationship between economic growth and ecological footprint. Therefore, for India, whose GDP is integrated with fossil fuels, higher growth at the beginning causes more fossil fuel use and negatively affects environmental quality. On the other hand, increasing urbanization in India, which has an underdeveloped energy infrastructure, increases environmental degradation. However, increasing renewable energy and financial development offer significant opportunities to reduce the ecological footprint.
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    Öğe
    Examining the Nexus of Energy Prices, Fossil Use, Efficiency, Technology export, and Environmental Quality: A Novel Analysis of the Top 10 Economies with the Highest Annual Increase in Energy Prices (1990-2021)
    (Berg Fac Technical Univ Kosice, 2023) Naimoglu, Mustafa; Ozbek, Bahar
    This study investigates environmental quality for the top 10 economies with the highest average annual increase in energy prices over the period 1990-2021. For this purpose, the interdependence between energy prices, energy efficiency, fossil fuel consumption, medium -high technology exports, and CO 2 emissions is investigated with annual data in the period 1990-2021. Slope heterogeneity and cross-section dependence were taken into account in the empirical analysis. Durbin -Hausman cointegration test and CCEMG estimator were used as methods. The findings showed that for the top 10 economies, higher energy prices and fossil fuel consumption increased environmental damage. Energy efficiency and more technology exports increase environmental quality. The study findings are new as this specific combination of variables for these top 10 countries has not been studied before.